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Referals from Realtors

As there is a plethora of Realtors on this site I was hoping to get a real good answer for this question. First statistics I have read read that 68% of home buyers are refered to a mortgage broker from there Realtor. So my question is to the Realtor community or anyone else with insightful information how do you as a Realtor choose which Mortgage broker to refer your loans to? Also what should your Mortgage Broker being doing for you for free right now that he or she is not currently doing?

I am considering offering sales training in NLP as I am a Master NLP Practioner. I believe that if I could show Realtors how to close more deals it would improve their ratios ... business ... bottom line. Which I believe is what most Realtors want ... desire ... crave more of in the first place. This training cost between $1000 - $2000 a month with a 12 month commitment. And I would do it for the cost of 12 referrals per year.

Thanks in Advance for Your thoughts,

J- - by Jorel
...how do you as a Realtor choose which Mortgage broker to refer your loans to?
I am not a fan of mortgage brokers but... if I had to choose a mortgage broker I would consider the different programs being offered, the broker's reputation and business practices, and my own comfort level with those individuals at the brokerage that will be involved in the deal.

Also what should your Mortgage Broker being doing for you for free right now that he or she is not currently doing?
What would be an example of something the mortgage broker should be doing for free?

I believe that if I could show Realtors how to close more deals it would improve their ratios ... business ... bottom line.
Which NLP concepts would be of help in closing more deals? - by AZBroker

What would be an example of something the mortgage broker should be doing for free?

Which NLP concepts would be of help in closing more deals?
An example could be something like providing a free 800 number for your listings. Or keeping you abreast of happening in the mortgage industry, and questions your clients might have for you and ways to respond to those questions in order to make you look like the expert. Or even just refering you clients.


Some NLP Concepts that can help close more deals are things such as embeded commands, binds, advanced techniques for obtaining rapport, language patterns and sleight of mouth techniques for handling objections.

I trust I answered your questions, now let me ask you this, you said you are not a fan of mortgage brokers. Why do you say this? And what do you do when your clients ask you about getting financing to purchase a home? - by Jorel
...you said you are not a fan of mortgage brokers. Why do you say this? And what do you do when your clients ask you about getting financing to purchase a home?
Unfortunately my experiences with mortgage brokers were almost always dissappointing. I prefer to work with bankers who originate and fund their own loans. When a customer asks me about real estate mortgages I mention companies like Countrywide, Wells Fargo, etc. - by AZBroker
Unfortunately my experiences with mortgage brokers were almost always dissappointing. I prefer to work with bankers who originate and fund their own loans. When a customer asks me about real estate mortgages I mention companies like Countrywide, Wells Fargo, etc.

Your experiences are similar to mine. That is why I got in the business to make a difference for the better. I was going to refiance my home several years ago and spoke with one everything seemed fine, but I felt I needed to get a second opinion, you know that feeling you get in your gut when something is not right? Well I am glad a I did. This guy was going to charge me 5% the legal maximum for doing my loan. I spoke with another mortgage broker and they showed me what the first guy was doing (yield spread) and raising my interest rate to do it. So I went with the second guy. Well this guy did not know that the lender had its own appraisal department so I had to pay for two appraisals. I did not figure out why until I got in the business. He lied to me and just said that is what some banks do. Well yes some do require two appraisals if the property value is over a million dollars not the 250k my home was worth 10 years ago when I refied.
So you can see as a victim of the less than honest mortgage brokers out there I can see your point. I am sure you can also tell me some stories about less than ethical Realtors in your area. I know I have a few. The point I am trying to make is that it is not the industry but the individuals. Thanks for your post. - by Jorel
The point I am trying to make is that it is not the industry but the individuals.
I'm not confident that industry practices aren't part of the problem so mum's the word. ;wi - by AZBroker
I'm not confident that industry practices aren't part of the problem so mum's the word. ;wi
I'm sorry you feel that way.;cr What do you say when someone say